LEN Stock Cash Flow Statements

Lennar Quarterly Cash Flow Statements Chart

Quarterly

Annual

Operating Cash Flow

Investing Cash Flow

Financing Cash Flow

Lennar Quarterly Cash Flow Statements Table

Quarterly

Annual

Unit: USD	2025-05-31	2025-02-28	2024-11-30	2024-08-31	2024-05-31	2024-02-29	2023-11-30	2023-08-31	2023-05-31	2023-02-28	2022-11-30	2022-08-31	2022-05-31	2022-02-28	2021-11-30	2021-08-31	2021-05-31	2021-02-28	2020-11-30	2020-08-31	2020-05-31	2020-02-29	2019-11-30

cash flows from operating activities:
net earnings	481,820,000	528,713,000	1,099,874,000	1,187,274,000	960,586,000	719,921,000	1,367,289,000	1,116,952,000	877,742,000	599,308,000	1,343,934,000	1,472,694,000	1,322,558,000	509,315,000	1,193,650,000	1,409,218,000	836,772,000	1,016,909,000	890,909,000	669,323,000	516,098,000	391,223,000	671,183,000
adjustments to reconcile net earnings to net cash from operating activities:
depreciation and amortization	33,825,000	31,332,000	30,409,000	29,373,000	28,607,000	27,139,000	29,018,000	37,107,000	23,734,000	20,305,000	29,154,000	18,402,000	19,430,000	20,089,000	20,109,000	21,102,000	22,418,000	22,325,000	25,782,000	24,307,000	24,050,000	20,414,000	28,378,000
amortization of discount/premium and accretion on debt	-51,000	-91,000	-259,000	71,000	297,000	39,000											-2,357,000	-2,361,000	-6,143,000	-4,793,000	-6,896,000	-6,943,000	-6,369,000
equity in (earnings) losses from unconsolidated entities
distributions of earnings from unconsolidated entities	8,484,000	11,586,000	121,457,000	13,214,000	12,472,000	8,422,000	19,411,000	17,057,000	12,034,000	4,623,000	24,925,000	35,326,000	6,228,000	4,822,000	5,432,000	24,958,000	11,360,000	4,234,000	23,037,000	1,036,000	1,078,000	36,922,000	3,578,000
share-based compensation expense	28,773,000	84,085,000	22,582,000	31,908,000	34,506,000	87,680,000	21,104,000	12,885,000	40,173,000	86,558,000	29,376,000	38,200,000	35,053,000	81,457,000	29,235,000	24,751,000	31,817,000	48,818,000	23,332,000	28,658,000	23,286,000	31,855,000	21,502,000
deferred income tax expense	14,909,000	23,472,000		62,520,000											-96,632,000	151,623,000	21,719,000	114,917,000	-32,824,000	45,168,000	22,732,000	57,006,000	90,524,000
gains on redemption/repurchase of senior notes
loans held-for-sale unrealized losses
lennar other realized and unrealized losses from technology investments and other losses
gains on sale of other assets and loans receivables
gain on sale of investments in unconsolidated entities and other
valuation adjustments and write-offs of option deposits and pre-acquisition costs on real estate, and other assets	61,466,000	28,261,000		99,251,000	19,917,000	6,609,000
changes in assets and liabilities:
decrease in receivables	-48,154,000	117,753,000			-348,146,000	379,102,000			-166,877,000	602,757,000			-254,255,000	380,502,000				45,649,000				245,694,000
increase in inventories, excluding valuation adjustments	-1,111,329,000	-513,257,000	422,607,000	-76,522,000	-346,157,000	-285,023,000
increase in deposits and pre-acquisition costs on real estate	-23,744,000	-757,972,000	-646,940,000	-229,611,000	-344,296,000	-410,936,000
increase in other assets	-75,170,000	-57,501,000	-28,525,000				15,838,000	11,112,000	-103,816,000	-8,139,000	97,431,000	-84,708,000	23,915,000	-49,968,000	32,969,000	26,909,000	-80,428,000	-100,486,000		23,446,000	-26,581,000	-121,506,000
decrease in loans held-for-sale	-83,856,000	445,233,000		-90,784,000	281,991,000	53,797,000		-143,559,000	66,084,000	511,807,000		-17,109,000	-73,352,000	409,435,000		-235,151,000	83,831,000	360,582,000				474,243,000
decrease in accounts payable and other liabilities	-384,991,000	-215,035,000		204,474,000	-54,562,000	-326,404,000
net cash from operating activities	-1,095,022,000	-289,042,000	974,505,000	819,248,000	241,759,000	367,867,000	2,589,197,000	951,865,000	660,471,000	978,205,000	2,714,216,000	498,842,000	124,841,000	-72,231,000	1,220,427,000	594,227,000	332,612,000	385,508,000	1,293,975,000	1,586,041,000	927,827,000	382,976,000	1,184,050,000
cash flows from investing activities:
net additions of operating properties and equipment	-15,216,000	-56,043,000		-18,405,000	-38,808,000	-72,925,000		-22,342,000	-25,845,000	-5,423,000		-16,668,000	-5,086,000	-5,780,000		-15,597,000	-15,117,000	-9,245,000		-17,125,000	-7,822,000	-17,909,000
proceeds from sale of other assets
proceeds from sale of investments in unconsolidated joint ventures
proceeds from sales of investments	0	72,003,000
investments in and contributions to unconsolidated entities	-66,785,000	-78,709,000	-113,658,000	-64,119,000	-130,192,000	-117,593,000	-48,512,000	-44,224,000	-51,025,000	-57,281,000	-50,667,000	-135,362,000	-122,463,000	-138,909,000		-72,385,000	-58,091,000	-224,112,000				-78,607,000	-106,467,000
distributions of capital from unconsolidated entities	139,748,000	35,455,000		174,720,000	26,477,000	35,330,000		23,461,000	22,506,000	23,993,000		92,678,000	65,562,000	173,561,000		60,921,000	148,304,000	83,241,000		20,584,000	28,769,000	86,324,000
proceeds from sale of loans receivables
acquisition, net of cash and restricted cash acquired	-23,066,000	-231,426,000
decrease in financial services loans held-for-investment	999,000	8,467,000			211,000	2,749,000	2,107,000	3,340,000	8,464,000	418,000				11,431,000				3,777,000
purchases of investment securities	0	-3,456,000	0	-2,456,000	0	-2,063,000	0	-1,000,000			0	-15,000,000	-7,500,000	-71,269,000	-6,487,000	-77,977,000			3,745,000	-19,651,000	-21,535,000	-8,107,000	-4,382,000
proceeds from maturities/sales of investment securities	612,000	1,934,000	2,970,000	933,000	1,828,000	1,493,000	895,000	919,000	921,000	1,938,000	8,420,000	5,370,000	1,319,000	1,783,000	4,451,000	1,945,000	922,000	8,994,000
net cash from investing activities	161,391,000	21,490,000	-125,733,000	97,960,000	-126,869,000	-147,915,000	-62,016,000	-34,393,000	-44,217,000	-36,355,000	3,165,000	-66,699,000	-44,776,000	-19,992,000	26,082,000	-81,096,000	43,280,000	-93,352,000	-12,738,000	-93,425,000	-187,221,000	13,179,000	58,953,000
cash flows from financing activities:
net borrowings under revolving line of credit																						300,000,000
net repayments under warehouse facilities	19,013,000	-533,831,000		135,315,000	-154,189,000	-599,514,000		-2,876,000	-14,598,000	-963,455,000		165,947,000	124,607,000	-528,667,000		178,262,000	-34,885,000	-500,849,000		-479,123,000	445,386,000	-755,602,000
proceeds from issuance of senior notes
redemption/repurchases of senior notes			0	0			-488,074,000
principal payments on notes payable and other borrowings	-12,729,000	-27,600,000	471,000	-3,323,000	-36,922,000	-3,750,000	-16,076,000	-54,527,000	-7,894,000	-26,621,000	-12,537,000	-12,942,000	-3,824,000	-18,776,000	-29,809,000	-50,439,000	-59,614,000	-55,350,000	-54,739,000	-375,874,000	-81,132,000	-93,250,000
net cash distributed in connection with millrose properties, inc. spin-off	0	-416,006,000
proceeds from liabilities related to consolidated inventory not owned	0	259,000	65,084,000	24,805,000	37,985,000	67,650,000	120,024,000	154,399,000	116,520,000	70,369,000	321,819,000	287,910,000	358,015,000	199,483,000	253,008,000	139,308,000	234,437,000	67,432,000
proceeds from other borrowings				0	1,000	6,230,000									0	0	5,070,000	8,903,000	22,656,000	10,893,000	31,562,000	27,577,000	26,117,000
payments for liabilities related to consolidated inventory not owned
payments related to other liabilities	-1,421,000	-1,421,000	-1,421,000	-1,421,000	14,080,000	-16,922,000		-1,395,000	-1,364,000	-1,257,000												-5,480,000
receipts related to noncontrolling interests	9,701,000	11,328,000	3,073,000	2,322,000	8,926,000	5,796,000	14,840,000	1,391,000	2,421,000	2,497,000	11,756,000	11,965,000	11,111,000	6,984,000	51,100,000	4,670,000	5,009,000	8,896,000	1,052,000	6,504,000	80,148,000	88,913,000	464,000
payments related to noncontrolling interests	-576,000	-5,389,000	-831,000	-19,173,000	-24,667,000	-1,979,000	-27,854,000	-22,795,000	633,000	-21,256,000	-6,231,000	-19,577,000	-6,133,000	-59,388,000	-3,746,000	-3,633,000	-5,829,000	-11,397,000	-12,899,000	-7,949,000	-4,767,000	-16,734,000	-8,045,000
debt issuance costs
common stock:
repurchases	-521,419,000	-774,475,000	-527,156,000	-524,602,000	-609,606,000	-595,100,000	-341,100,000	-376,314,000	-207,339,000	-257,958,000	-120,627,000	-13,139,000	-324,243,000	-581,300,000	-977,704,000	-278,864,000	-104,164,000	-69,480,000	-2,535,000	-22,896,000	-105,000	-295,988,000	-103,752,000
dividends	-133,589,000	-131,646,000	-134,655,000	-135,850,000	-138,931,000	-139,387,000	-105,201,000	-107,082,000	-110,386,000	-107,891,000	-108,321,000	-108,749,000	-110,846,000	-110,122,000	-75,788,000	-77,662,000	-78,483,000	-77,843,000	-77,931,000	-38,967,000	-38,905,000	-39,240,000	-12,678,000
net cash from financing activities	-175,369,000	-2,134,643,000	-169,706,000	-527,448,000	-1,454,974,000	-1,529,422,000	-80,275,000	-1,109,284,000	-574,567,000	-1,483,463,000	547,059,000	-434,222,000	-132,230,000	-1,257,886,000	-1,102,816,000	-484,086,000	-188,145,000	-629,688,000	-580,585,000	-917,420,000	-158,766,000	-789,804,000	-844,174,000
net decrease in cash and cash equivalents and restricted cash	-1,109,000,000	-2,402,195,000		389,760,000	-1,340,084,000	-1,309,470,000		-191,812,000	41,687,000	-541,613,000		-2,079,000	-52,165,000	-1,350,109,000				-337,532,000				-393,649,000
cash and cash equivalents and restricted cash at beginning of period	0	4,990,210,000		0	0	6,570,938,000		0	0	4,815,770,000		0	0	2,955,683,000		0	0	2,932,730,000		0	0	1,468,691,000
cash and cash equivalents and restricted cash at end of period	-1,109,000,000	2,588,015,000		389,760,000	-1,340,084,000	5,261,468,000		-191,812,000	41,687,000	4,274,157,000		-2,079,000	-52,165,000	1,605,574,000		29,045,000	187,747,000	2,595,198,000		575,196,000	581,840,000	1,075,042,000
summary of cash and cash equivalents and restricted cash:
homebuilding	-1,115,785,000	2,283,928,000	625,238,000	439,912,000	-1,352,635,000	4,950,128,000	2,385,915,000	-116,870,000	-53,277,000	4,057,956,000	3,306,760,000	-5,377,000	-51,856,000	1,366,597,000	111,893,000	41,737,000	160,172,000	2,421,411,000	725,231,000	570,504,000	614,635,000	793,616,000	401,887,000
financial services	13,814,000	188,833,000	18,542,000	-88,944,000	11,938,000	233,846,000	-7,725,000	-92,522,000	96,738,000	163,000,000	-4,252,000	4,968,000	-29,370,000	168,032,000	30,000,000	6,493,000	12,672,000	117,856,000	-112,259,000	-1,191,000	-30,985,000	260,606,000	7,729,000
multifamily	-819,000	15,030,000	6,193,000	13,200,000	-15,536,000	27,091,000	10,622,000	10,173,000	3,464,000	15,075,000	-23,043,000	-20,320,000	26,751,000	34,439,000	1,548,000	-7,093,000	-3,249,000	25,644,000	17,372,000	8,530,000	-2,729,000	15,790,000	-7,767,000
lennar other	-6,288,000	28,981,000	7,029,000	16,478,000	14,484,000	2,700,000	-3,396,000	569,000	-2,050,000	6,825,000	-4,790,000	8,030,000	-606,000	2,757,000	-838,000	424,000	-814,000	3,888,000	616,000	-2,647,000	919,000	5,030,000	-3,022,000
homebuilding restricted cash	1,500,000	22,487,000	-801,000	1,028,000	-1,063,000	12,635,000	-2,720,000	-2,799,000	-3,504,000	22,504,000	-9,529,000	4,135,000	1,415,000	27,025,000	408,000	-14,118,000	17,759,000	17,878,000
financial services restricted cash	-1,422,000	48,756,000	22,865,000	8,086,000	2,728,000	35,068,000	64,210,000	9,637,000	316,000	8,797,000	-706,000	6,485,000	1,501,000	6,724,000	682,000	1,602,000	1,207,000	8,521,000
supplemental disclosures of non-cash investing and financing activities:
homebuilding:
payments of inventories financed by sellers	0	320,000
net non-cash contributions to unconsolidated entities	145,124,000	17,330,000	8,901,000
non-cash impacts of millrose properties, inc. spin-off:
inventories	-2,328,000	-5,576,376,000									-82,146,000	-102,314,000							0	131,435,000			0
investments in unconsolidated entities	2,328,000	1,194,711,000									8,039,000	68,320,000							0				0
other assets	0	-60,156,000										-2,000
notes payable	0	19,000,000																	0				0
retained earnings	0	4,422,821,000
adjustments to reconcile net earnings to net cash (used in ) provided by operating activities:
equity in (earnings) income from unconsolidated entities		-33,234,000													15,578,000	3,047,000							9,707,000
loans held-for-sale unrealized (gains) losses		-30,403,000
lennar other realized losses and unrealized (gains) losses from technology investments and other (gains) losses		71,427,000
gains on sale of other assets		-23,411,000
proceeds from the sale of other assets		40,258,000			13,615,000	5,094,000	0
proceeds from sale of investment in unconsolidated joint ventures		233,007,000
payments related to liabilities related to consolidated inventory not owned		-255,862,000	46,420,000	-5,521,000	2,214,000	-252,446,000
deferred income tax (benefit) expense						11,979,000					-230,662,000	66,470,000	-28,429,000	-54,032,000
lennar other unrealized (gains) losses from technology investments and other (gains) losses			-32,037,000	-41,704,000
gains on sale of operating properties and equipment and other assets			-23,409,000
gain on redemption/repurchases of senior notes and other debts payable
valuation adjustments and write-offs of option deposits and pre-acquisition costs on real estate, other receivables and other assets
increase in receivables			-105,042,000				-496,764,000				-258,015,000
increase in loans held-for-sale
increase in accounts payable and other liabilities							256,028,000	109,429,000	-300,339,000	-690,980,000	520,167,000	-95,749,000	180,240,000	96,455,000	367,302,000	329,291,000	1,132,000	183,584,000	100,842,000	153,502,000	580,000	11,564,000	100,910,000
net additions to operating properties and equipment
proceeds from the sale of operating properties and equipment and other assets			30,006,000																			13,067,000
distributions of capital from unconsolidated and consolidated entities																							155,412,000
proceeds from sale of commercial mortgage-backed securities bonds											0	0	0	9,191,000	0	0	0	11,307,000	0	0	0	3,248,000
increase in financial services loans held-for-investment			1,745,000													17,113,000							-614,000
other receipts															4,000	4,000	-676,000	684,000				1,677,000
net (repayments) borrowings under warehouse facilities
net increase in cash and cash equivalents and restricted cash															143,693,000	29,045,000			700,652,000	575,196,000
cash and cash equivalents and restricted cash at beginning of year
cash and cash equivalents and restricted cash at end of year
supplemental disclosures of cash flow information:
cash paid for interest, net of amounts capitalized
cash paid for income taxes
purchases of inventories financed by sellers			1,047,000
consolidation/deconsolidation of unconsolidated/consolidated entities, net:
operating properties and equipment and other assets																			0	495,000	7,042,000	-667,000	0
other liabilities											6,474,000	164,000							0	-1,637,000	0	182,000	0
noncontrolling interests											34,474,000	33,832,000							0	-17,079,000	28,917,000	485,000	0
gains on redemption/repurchases of senior notes				0
equity in income from unconsolidated entities					4,309,000	30,545,000		23,989,000	49,755,000	31,187,000				9,752,000				7,897,000				2,572,000
decrease (increase) in other assets					-7,668,000	19,061,000
purchases of inventories and other assets financed by sellers										13,500,000		52,000	27,493,000	6,150,000		148,000	69,985,000	68,978,000		14,115,000	27,617,000	75,365,000
loans held-for-sale unrealized loss						46,052,000	-6,700,000	9,795,000	-7,899,000	31,462,000		14,319,000	-350,000	27,387,000		-4,196,000	-4,669,000	35,021,000
lennar other unrealized losses from technology investments and other (gains) losses						2,555,000
gain on sale of other assets						-2,671,000
homebuilding and multifamily:
purchases of inventories, land under development and other assets financed by sellers						23,081,000
gain on sale of other assets, operating properties and equipment, cmbs bonds and other liabilities
gain on sale of interest in unconsolidated entity and other multifamily gain															0	0	18,017,000	-19,184,000	44,000	0	0	-4,661,000
gain on sale of financial services' portfolio/businesses															-1,283,000	0			0
proceeds from sale of investment in consolidated/unconsolidated joint ventures
proceeds from sale of financial services' portfolio/businesses																			0
net borrowings under warehouse facilities
payments related to consolidated inventory not owned							-245,304,000	-224,790,000	-194,796,000	-177,891,000		-170,637,000	-180,917,000	-166,100,000	-112,310,000	-88,587,000
(payments) proceeds related to other liabilities															32,706,000
amortization of discount/premium on debt								-503,000	-853,000	-838,000		-353,000	-469,000	-490,000
deferred income tax benefit								29,198,000	-49,580,000	-81,940,000
gain on redemption/repurchases of senior notes
valuation adjustments and write-offs of option deposits, pre-acquisition costs and other assets								11,334,000	59,271,000	25,846,000
increase in inventories, excluding valuation adjustments and write-offs of option deposits and pre-acquisition costs								-18,312,000	188,446,000	-177,705,000	1,510,349,000	-779,812,000	-1,200,724,000	-1,913,634,000	292,206,000	-676,400,000	-714,300,000	-862,120,000			617,874,000	-777,012,000	986,685,000
non-cash contributions to unconsolidated entities								0	0	120,000		63,614,000	16,433,000	124,864,000		0				0	0	13,859,000
gain on repurchases of senior notes
gain on sale of other assets and operating properties and equipment												0				0
repurchases of senior notes
lennar other unrealized losses from technology investments										23,954,000
unrealized (gain) loss on loans held-for-sale
lennar other unrealized/realized (gains) losses
gain on sale of other assets, operating properties and equipment, cmbs bonds, other liabilities and real estate owned
gain on deconsolidation of an entity
(gain) loss on retirement of senior notes and other debts payable
valuation adjustments and write-offs of option deposits and pre-acquisition costs, other receivables and other assets
proceeds from the sale of operating properties and equipment, other assets, cmbs bonds and real estate owned
decrease (increase) in financial services loans held-for-investment																				2,284,000	-2,590,000	2,733,000
net borrowings (repayments) under warehouse facilities
redemption of senior notes											0				-859,852,000				-1,186,999,000	-13,000,000			-600,000,000
payments related to liabilities from consolidated inventory not owned
non-cash right of use assets due to adoption of asu 2016-02
non-cash lease liabilities due to adoption of asu 2016-02
financial services assets																			-435,130,000	0
financial services liabilities																			230,350,000	0
financial services noncontrolling interests																			204,780,000	0
equity in earnings from unconsolidated entities												13,311,000
lennar other unrealized (gains) losses from technology investments and other (gain) loss
valuation adjustments and write-offs of option deposits and pre-acquisition costs												12,636,000	3,102,000	11,509,000		2,444,000	12,941,000	635,000		11,532,000	40,583,000	24,515,000
proceeds from sale of investment in consolidated joint venture																0
proceeds from sale of financial services portfolio/business
lennar other unrealized
proceeds from the sale of operating properties and equipment, other assets																4,880,000	0	32,002,000
non-cash increase in investment in equity securities
non-cash increase in receivables
non-cash increase in other liabilities
lennar other unrealized (gain) income from technology investments														395,170,000
lennar other unrealized/realized gains
(gain) loss on sale of other assets, operating properties and equipment, cmbs bonds, other liabilities and real estate owned
(gain) loss on deconsolidation/consolidation of an entity
investments in and contributions to unconsolidated entities/deconsolidation of previously consolidated entity																			-73,743,000	-109,690,000
receipts of principal payments on loans receivable and other																							230,000
issuances																							105,000
lennar other restricted cash
net non-cash contributions (distributions) to unconsolidated entities
non-cash sale of operating properties and equipment and other assets
non-cash right of use assets recognized due to adoption of asu 2016-02
non-cash lease liabilities recognized due to adoption of asu 2016-02
receivables																							0
lennar other unrealized/realized gain																-495,202,000
loss on consolidation																			0
gain on deconsolidation of previously consolidated entity																			0	0
proceeds from sale of financial services' portfolio/business																0
decrease (increase) in receivables																							-215,735,000
proceeds related to other liabilities
lennar other unrealized gain																		-469,745,000
gain on sale of other assets, operating properties and equipment and real estate owned																		-1,167,000		-2,720,000	-10,216,000	-2,910,000
loss on retirement of senior notes and other debts payable
gain on sale of rialto investment and asset management platform
decrease (increase) in inventories, excluding valuation adjustments and write-offs of option deposits and pre-acquisition costs																			667,933,000
decrease (increase) in loans held-for-sale																			-402,905,000	76,174,000
proceeds from sale of investments in unconsolidated entities
purchases of cmbs bonds
proceeds from sale of rialto investment and asset management platform
acquisitions, net of cash and restricted cash acquired
other receipts (payments)
net repayments under revolving lines of credit
conversions, exchanges and redemption of convertible senior notes																							0
principal payments on rialto notes payable including structured notes
payments to other liabilities
conversions of and exchanges on convertible senior notes to equity
equity component of acquisition consideration
equity in loss (earnings) from unconsolidated entities
proceeds from the sale of operating properties and equipment, other assets and real estate owned																				3,369,000
proceeds from sale of investment in unconsolidated entity
proceeds from maturities/sales of investments securities																				20,953,000	14,385,000	10,753,000
net proceeds related to other liabilities
gain on sale of financial services' servicing portfolio/businesses
proceeds from sale of financial services' servicing portfolio/businesses
proceeds (payments) related to other liabilities
gain on sale of financial services' businesses																							0
proceeds from sale of financial services' businesses																							0
excess tax benefits from share-based awards
gain on sale of other assets, operating properties and equipment and cmbs bonds
loss on consolidation of previously unconsolidated entity																							0
gain on sale of interest in multifamily unconsolidated entities
gain on sale of interest in unconsolidated entities
unrealized and realized gains on real estate owned																							603,000
impairments of loans receivable and real estate owned
proceeds from the sale of other assets, operating properties and equipment and cmbs bonds
proceeds from sales of real estate owned																							306,000
receipts of principal payments on loans held-for-sale
originations of loans receivable
purchases of commercial mortgage-backed securities bonds
other payments
proceeds from senior notes
proceeds from rialto notes payable
(payments) proceeds to/from other liabilities
principal payments on other borrowings																							-34,718,000
gain on sale of operating properties and equipment
gain on sale of interest in unconsolidated entities and other multifamily gain
impairments of loans held-for-sale and real estate owned
proceeds from sale of investment in unconsolidated entities
net borrowings under revolving lines of credit
conversions and exchanges on convertible senior notes
loss on retirement of debt and notes payable
gain on sale of interest in unconsolidated entity
gain on sale of other assets (investment carried at cost)/cmbs bonds
decrease in restricted cash
decrease (increase) in restricted cash related to investments or locs
proceeds from the sale of operating properties and equipment
acquisitions, net of cash acquired
proceeds from sales of investments available-for-sale
decrease (increase) in lennar financial services held-for-investment
purchases of lennar financial services investment securities
net increase in cash and cash equivalents
cash and cash equivalents at beginning of year
cash and cash equivalents at end of year
summary of cash and cash equivalents:
lennar homebuilding
lennar financial services
lennar multifamily
rialto
lennar homebuilding and lennar multifamily:
rialto:
real estate owned acquired in satisfaction/partial satisfaction of loans receivable
liabilities related to consolidated inventory not owned
lennar homebuilding equity in income from unconsolidated entities
gain on distribution of net assets from lennar homebuilding unconsolidated entities
distributions of earnings from lennar homebuilding unconsolidated entities
rialto investments equity in (earnings) income from unconsolidated entities
distributions of earnings from rialto investments unconsolidated entities
lennar multifamily equity in income from unconsolidated entities
tax benefit from share-based awards
gain on retirement of lennar homebuilding debt
gain on sale of operating property and equipment
loss on retirement of lennar homebuilding senior notes
unrealized and realized gains on rialto investments real estate owned
unrealized gain on rialto investments bargain purchase acquisition
gain on sale of rialto investments commercial mortgage-backed securities
impairments of rialto investments loans receivable and reo
increase in restricted cash
increase in rialto investments loans held-for-sale
decrease (increase) in lennar financial services loans-held-for-sale
increase in restricted cash related to locs
investments in and contributions to lennar homebuilding unconsolidated entities
distributions of capital from lennar homebuilding unconsolidated entities
investments in and contributions to rialto investments unconsolidated entities
investments in and contributions to lennar multifamily unconsolidated entities
distributions of capital from rialto investments unconsolidated entities
distributions of capital from lennar multifamily unconsolidated entities
decrease (increase) in rialto investments defeasance cash to retire notes payable
receipts of principal payments on rialto investments loans receivable
proceeds from sales of rialto investments real estate owned
rialto investments acquisition, net of cash acquired
improvements to rialto investments real estate owned
purchases of loans receivables
purchases of lennar homebuilding investments available-for-sale
proceeds from sales of lennar homebuilding investments available-for-sale
proceeds from sale of investments in commercial mortgage-backed securities
increase in lennar financial services loans held-for-investment
proceeds from maturities of lennar financial services investments securities
net (repayments) borrowings under lennar financial services debt
net borrowings under rialto investments warehouse repurchase facilities
proceeds from convertible senior notes
debt issuance costs of senior notes and convertible senior notes
partial redemption of senior notes
principal repayments on rialto investments notes payable
proceeds from rialto investments senior notes
exercise of land option contracts from an unconsolidated land investment venture
rialto investments
non-cash contributions to lennar homebuilding unconsolidated entities
non-cash distributions from lennar homebuilding unconsolidated entities
inventory acquired in satisfaction of other assets including investments available-for-sale
non-cash reclass from inventories to operating properties and equipment
non-cash purchases of investments available-for-sale
non-cash reduction of equity due to purchase of noncontrolling interest
non-cash purchase of noncontrolling interests
non-cash contributions to lennar multifamily unconsolidated entities
rialto investments:
real estate owned acquired in bargain purchase acquisition
net liabilities assumed in bargain purchase acquisition
notes payable and other liabilities assumed from loans receivable deficiency settlements
reductions in loans receivable from deficiency settlements
consolidations of newly formed or previously unconsolidated entities, net:
investments in lennar homebuilding unconsolidated entities
debts payable
adjustments to reconcile net earnings (including net earnings attributable to noncontrolling interests) to net cash from operating activities:
shared based compensation expense
impairments and charge-offs of rialto investments loans receivable and reo
increase in lennar financial services loans-held-for-sale
investments in and contributions to rialto investments consolidated entities
acquisition of rialto investment portfolios of distressed loans and real estate assets
increase in rialto investments defeasance cash to retire notes payable
investments in commercial mortgage-backed securities
net borrowings under lennar financial services debt
cash (paid) received for income taxes
lennar homebuilding:
purchases of portfolios of distressed loans and real estate assets financed by sellers
loans receivable
investments in rialto investments consolidated entities
adjustments to reconcile net earning (loss) (including net earnings attributable to noncontrolling interests ) to net cash from operating activities:
gain on recapitalization of lennar homebuilding unconsolidated entity
lennar homebuilding equity in income from unconsolidated entities, including 10.5 million, 101.9 million and 32.2 million, respectively, of the company’s share of valuation adjustments related to assets of lennar homebuilding unconsolidated entities in 2010, 2009 and 2008
distribution of earnings from lennar homebuilding unconsolidated entities
rialto investments equity in earnings from unconsolidated entities
tax provision from share-based awards
deferred income tax provision
gain on retirement of lennar homebuilding other debt
gain on retirement of lennar homebuilding senior notes
gains on rialto investments real estate owned
valuation adjustments, write-offs of option deposits and pre-acquisition costs, write-offs of notes and other receivables and goodwill impairments
decrease (increase) in restricted cash
increase in lennar financial services loans held-for-sale
net (additions) disposals of operating properties and equipment
acquisitions of rialto investments portfolios of distressed loans and real estate assets
receipts of principal payments on loans receivable
decrease in lennar financial services loans held-for-investment
proceeds from sales and maturities of investment securities
net borrowings (repayments) of lennar financial services debt
exercise of land options contracts from an unconsolidated land investment venture
cash received for income taxes
purchase of portfolios of distressed loans and real estate assets financed by sellers
rialto investments real estate owned acquired in satisfaction of loans receivable
gain on recapitalization of unconsolidated entity
gain on sale of personal lines insurance policies
equity in income from unconsolidated entities, including 32.2 million, 364.2 million and 126.4 million, respectively, of the company’s share of sfas 144 valuation adjustments related to assets of unconsolidated entities in 2008, 2007 and 2006
distribution of earnings from unconsolidated entities
minority interest income
tax benefits from share-based awards
valuation adjustments and write-offs of option deposits and pre-acquisition costs, notes receivables and goodwill impairments
changes in assets and liabilities, net of effect from acquisitions:
decrease in other assets
decrease in financial services loans held-for-sale
contributions to unconsolidated entities
distributions in excess of investment in unconsolidated entity
proceeds from sale of personal lines insurance policies
net repayments under financial services debt
net proceeds from 5.95% senior notes
net proceeds from 6.50% senior notes
redemption of senior floating-rate notes due 2007
redemption of senior floating-rate notes due 2009
partial redemption of 7 5/8% senior notes due 2009
net proceeds from sale of land to an unconsolidated land investment venture
receipts related to minority interests
payments related to minority interests
cash (received) paid for income taxes
conversion of debt to equity, including tax benefit
non-cash distributions from unconsolidated entities
issuance of common stock for employee compensation
consolidation/deconsolidation of previously unconsolidated/consolidated entities, net:
other debts payable
minority interest
acquisitions:
fair value of assets acquired
goodwill recorded
fair value of liabilities assumed
cash paid
net earnings from continuing operations
adjustments to reconcile net earnings from continuing operations to net cash from operating activities:
equity in (earnings) income from unconsolidated entities, including 364.2 million and 126.4 million, respectively, of the company’s share of sfas 144 valuation adjustments related to assets of unconsolidated entities in 2007 and 2006
minority interest expense
loss on redemption of 9.95% senior notes
valuation adjustments and write-offs of option deposits and pre-acquisition costs and goodwill
increase in financial services loans held-for-sale
net earnings from discontinued operations
adjustment to reconcile net earnings from discontinued operations to net cash from operating activities
net (additions) disposals to operating properties and equipment
proceeds from sale of business
net borrowings (repayments) under financial services debt
net proceeds from 5.125% senior notes
net proceeds from 5.60% senior notes
redemption of 9.95% senior notes
net payments related to minority interests
net increase in cash
cash at beginning of year
cash at end of year
summary of cash:
consolidation/deconsolidation of previously unconsolidated/ consolidated entities, net:
equity in (earnings) income from unconsolidated entities, net of 126.4 million of valuation adjustments to the company’s investments in unconsolidated entities in 2006
inventory write-offs and valuation adjustments
increase in inventories, net of inventory write-offs and valuation adjustments
additions to operating properties and equipment
proceeds from sales of investment securities
net proceeds from senior floating-rate notes due 2007
net proceeds from senior floating-rate notes due 2009
net proceeds from 5.50% senior notes
conversion of debt to equity
purchases of inventory financed by sellers
fair value of assets acquired, including cash of 0 in 2006, 0 in 2005 and 1,392 in 2004
amortization of discount on debt
minority interests
tax benefit from employee stock plans and vesting of restricted stock
increase in inventories
proceeds from investment securities
proceeds from the sale of business
net borrowings (repayments) under financial services short-term debt
principal payments on term loan b and other borrowings
(payments) receipts related to minority interests
dividends and other
land distributions from unconsolidated entities
fair market value of assets acquired, inclusive of cash of 0 in 2005, 1,392 in 2004 and 9,004 in 2003
fair market value of liabilities assumed
increase in financial services mortgage loans held-for-sale
distributions from unconsolidated entities
increase in financial services mortgage loans
fair market value of assets acquired, inclusive of cash of 1,392 in 2004, 9,004 in 2003 and 37,986 in 2002

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